MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Position Lifted by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC boosted its stake in MoonLake Immunotherapeutics (NASDAQ:MLTX) by 18.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 488,805 shares of the company’s stock after buying an additional 77,590 shares during the quarter. TimesSquare Capital Management LLC’s holdings in MoonLake Immunotherapeutics were worth $29,519,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Barclays PLC purchased a new stake in shares of MoonLake Immunotherapeutics during the third quarter worth $189,000. Stratos Wealth Partners LTD. bought a new stake in shares of MoonLake Immunotherapeutics in the 4th quarter valued at approximately $202,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of MoonLake Immunotherapeutics in the 4th quarter valued at approximately $217,000. J.P. Morgan Private Wealth Advisors LLC acquired a new position in MoonLake Immunotherapeutics in the third quarter worth approximately $246,000. Finally, Graham Capital Management L.P. bought a new position in MoonLake Immunotherapeutics during the third quarter valued at approximately $248,000. Institutional investors and hedge funds own 93.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MLTX shares. Needham & Company LLC restated a “buy” rating and set a $66.00 price target on shares of MoonLake Immunotherapeutics in a research note on Wednesday. HC Wainwright reissued a “buy” rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a research report on Wednesday. The Goldman Sachs Group started coverage on MoonLake Immunotherapeutics in a research report on Tuesday, April 2nd. They issued a “neutral” rating and a $62.00 price target for the company. Wedbush reiterated an “outperform” rating and set a $92.00 price target on shares of MoonLake Immunotherapeutics in a research note on Wednesday, March 13th. Finally, William Blair reissued an “outperform” rating and issued a $92.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Monday, February 26th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, MoonLake Immunotherapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $74.46.

MoonLake Immunotherapeutics Trading Down 2.4 %

MLTX traded down $1.03 during midday trading on Wednesday, reaching $42.63. The company’s stock had a trading volume of 125,713 shares, compared to its average volume of 440,025. The company has a fifty day simple moving average of $46.03 and a 200 day simple moving average of $50.77. The stock has a market cap of $2.72 billion, a P/E ratio of -56.09 and a beta of 1.29. MoonLake Immunotherapeutics has a twelve month low of $24.31 and a twelve month high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.03). Sell-side analysts expect that MoonLake Immunotherapeutics will post -1.11 earnings per share for the current year.

Insider Buying and Selling at MoonLake Immunotherapeutics

In other news, CEO Da Silva Jorge Santos sold 20,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $60.18, for a total transaction of $1,203,600.00. Following the completion of the transaction, the chief executive officer now owns 3,147,554 shares of the company’s stock, valued at $189,419,799.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Da Silva Jorge Santos sold 20,000 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $60.18, for a total value of $1,203,600.00. Following the completion of the transaction, the chief executive officer now directly owns 3,147,554 shares in the company, valued at $189,419,799.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kristian Reich sold 10,000 shares of MoonLake Immunotherapeutics stock in a transaction on Friday, February 16th. The stock was sold at an average price of $60.15, for a total transaction of $601,500.00. Following the sale, the insider now owns 110,071 shares in the company, valued at approximately $6,620,770.65. The disclosure for this sale can be found here. Insiders sold a total of 166,981 shares of company stock valued at $9,490,674 in the last ninety days. Company insiders own 15.27% of the company’s stock.

MoonLake Immunotherapeutics Profile

MoonLake Immunotherapeutics, a clinical-stage biopharmaceutical company, engages in developing therapies. It develops Sonelokimab, a novel investigational Nanobody for the treatment of inflammation diseases; and hidradenitis suppurativa, psoriatic arthritis, axial spondyloarthritis, and psoriasis. MoonLake Immunotherapeutics was incorporated in 2020 and is headquartered in Zug, Switzerland.